Dec 8, 2013; Landover, MD, USA; Dallas Cowboys quarterback Tony Romo (9) scrambles against the Washington Redskins during the second half at FedEx Field. Mandatory Credit: Brad Mills-USA TODAY Sports

NFL Rumors: Dallas Cowboys convert Tony Romo's contract

The Dallas Cowboys are one of the most financially strapped teams in the NFL (in regards to the salary cap), but they’ve made things a little easier this offseason by converting the contract of quarterback Tony Romo.

According to ESPN Dallas, the Cowboys have converted $12.5 of Romo’s $13.5 million dollar base salary into a signing bonus, freeing up so much needed salary cap space.

The Dallas Cowboys will be less than $1 million over the salary cap after restructuring quarterback Tony Romo’s contract to create $10 million in cap space.

According to a source, the team will convert $12.5 million of Romo’s $13.5 million base salary into a signing bonus, dropping his cap figure from $21.773 million to $11.773 million.

It’s a pretty big move for the Cowboys, though, it doesn’t come without issues as continued contract restructuring only hurts down the road. The change in Romo’s contract shouldn’t hurt much moving forward, but reworking the deals of Sean Lee and Orlando Scandrick could sting a bit down the road.

The Cowboys are now only $1 million dollars over the cap after reworking the deals.

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Tags: Dallas Cowboys Tony Romo